Snap top executive quits sinking its shares

Khan’s departure was revealed on a SEC filing and is not related to any disagreements

The revelation led to the company’s shares dropping in U.S. premarket trading

CALIFORNIA, U.S. - Snap's recent filing with the U.S. Securities and Exchange Commission revealed that the company's chief strategy officer, Imran Khan, is leaving after nearly four years with the company.

The company's SEC filing noted that the company's second top executive will continue in his role for an interim period before stepping down "to assist with an effective transition of his duties and responsibilities."

The filing however, did not specify a date for his eventual exit.

Khan, who previously worked at Credit Suisse as an investment banker, became the latest top executive to leave the company.

His departure comes at a time when the company's Snapchat is facing increased struggles to retain users after its controversial redesign.

In the filing, Snap said that Khan's departure was not linked to any accounting, management, policy or similar issues and that he was leaving to "pursue other opportunities."

He is credited with playing a key role in taking Snap public after assuming charge as the company's chief strategy officer in 2015.

In an email to staff, Khan reportedly wrote, "After nearly four years at Snap, I have decided to step down. This has been a very difficult decision for me to make. There is never a perfect time to say goodbye, but I know that the time is now. We have a stellar leadership team in place to guide Snap through the next phase of growth and on to the next chapter."

Further, Evan Spiegel, Snap's chief executive, said in a statement, "Imran has been a great partner building our business. We appreciate all of his hard work and wish him the best."

After the news was announced, Snap's share price fell 1.5 percent in U.S. premarket trading.